Now that buyers are finding their way back into the market, multiple-offer scenarios are becoming increasingly common. Here is how you can give yourself the best chance of victory if you find yourself competing for your dream home.
Be fun and easy to work with
In any negotiation, it’s important to consider the other side’s perspective. In a multiple-offer scenario, this is particularly important since, by definition, the seller has more options than you do. Be friendly, respond quickly, and avoid playing games. If the seller anticipates an enjoyable transaction with you, your chances improve.
Look for leverage points
Different sellers have different priorities. Some sellers may prioritize the final sales price, while others may place a bigger emphasis on a speedy escrow process. Look for clues throughout the process to find leverage points—ways you can structure your offer to be more attractive than the other offers.
Keep exploring other options
When buyers put in an offer on a home, they often think the process of looking for a home is over. However, in a multiple-offer scenario, there is always a chance that your offer will not be accepted. Keep looking at new homes as they come to market. This will help you in two important ways. First, if you never stop looking in the first place, you will be capable of finding another home that matches your criteria much more quickly, if you need to. Second, you will have more confidence and clarity throughout the multiple-offer scenario if you keep reminding yourself that there are other homes available.